Peter Friedli, Chairman

Peter Friedli has been a founder and principal of various venture investment firms since 1986. Mr. Friedli has over 28 years of entrepreneurial experience as an independent investment manager in venture capital and has specialized in investments predominantly domiciled in the United States in the areas of biotechnology and technology. He has held interests in more than 170 venture companies ranging from start-up to public companies. Peter Friedli possesses an active involvement in the management of a number of those companies and also serves on the board of them. Prior to that, he worked in the field of international management consulting for service and industrial companies in Europe and the United States.

Peter Friedli is a director of the portfolio company Osiris Therapeutics, Inc. Further, Mr. Friedli is President of Madison Investment Advisory, Inc.

Mr. Friedli is a founder of New Venturetec and has been a member of the Board of Directors since 1997.

Hans Lerch, Vice Chairman, Swiss

Hans Lerch had a long time career with Kuoni Travel Holding Ltd. From 1972 to 1985 he had assignments in different locations in the Far East and thereafter various positions at the headquarter in Switzerland. From 1999 to 2005 Mr. Lerch was President and CEO of the Kuoni Group and from 2005 to 2008 Chairman and CEO of SR Technics Holding in Zürich. Other significant positions are vice Chairman and CEO of Hotelplan Holding AG, Zurich, Member of the Board of Directors of Kühne+Nagel International, Schindellegi and Chairman of the Board of Directors of the International School of Tourism, Zurich and Executive Director of the Abercrombie & Kent Group, London. Mr. Lerch is trained in trading and tourism.

Mr. Lerch has been a member of the Board of Directors since 2007.

Andreas von Sprecher, member and Secretary, Swiss

Andreas von Sprecher is a founding partner at the law firm Hüppi & von Sprecher. Prior to that Mr. von Sprecher worked as an attorney of law. He is involved in some entrepreneurial projects in the area of tourism and viniculture. Mr. von Sprecher graduated in Law at the University of Zurich and has been admitted to the bar of the Canton of Zurich in 1989. Mr. von Sprecher is Partner at Hüppi & von Sprecher. He is a member of the Board of Directors of the Schweizerische Mobiliar Genossenschaft and SHV Interholding AG.

Mr. von Sprecher has been a member of the Board of Directors since 2002.